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Forum » Is it retarded to buy a new truck with 70k salary?
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Thread: Is it retarded to buy a new truck with 70k salary?

post 1660805273 05-05-2022, 08:16 PM
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#31
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Originally Posted By DeadlyStriker⏩
Exactly. The only chance people had were riding crypto swings for a short period of time to make bank. Funny how everything in the market is downs. Crypto, gold, silver, stocks, etc. doesn't make much sense. I'm down too and even down with gold and silver during unheard of inflationary times. Have to love market manipulation!

Assets and cash flow are king. Have to start your own business now. Utilize the tax breaks and you hold the ability to grow it based on your own actions. No corporation is going to give you big enough raises to keep up either. **** is getting crazy.
Fuking hell bro. So much based here. I reppsss
post 1660805413 05-05-2022, 08:20 PM
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#32
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If you didn't have to worry about saving.. I'd say 10-14% of your monthly budget dedicated to transportation is a good figure. This includes insurance, maintenance, gas and finally the financing.

Since you need to save.. your total monthly budget is now half savings, half spendings. So 5-7% goes towards transportation.

I'd aim to stay at home till you have a steady gf to move in with or wife if you're more conservative. Stack money till then, as the more your investments are bringing in the hotter the wife you'll attract.

Quickest way to get a better car is to increase your salary by being promoted. Always be thinking of what it takes to get to the next level.
post 1660806313 05-05-2022, 08:42 PM
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#33
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post 1660816533 05-06-2022, 03:57 AM
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#34
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The only thing that’s retarded is buying a Tacoma

Srs
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post 1660816683 05-06-2022, 04:02 AM
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#35
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Vehicles are a cash buy.

You can spend half your savings on a vehicle.

You need to save 10k to buy a 5k truck.
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post 1660819573 05-06-2022, 05:59 AM
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#36
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You asking if you should sink 70K, most likely your entire net worth if you just graduated college, into a historically depreciating item that provides minimal utility compared to other options......obviously that's a no.


I get the hobbies thing, I too have truck oriented hobbies. Unless your hobby is towing 2,000+lb objects around or hauling wood in large quantities you don't need a truck. This is coming from someone who hunted/camped out of a sedan for several years and still is. TFW dragging out an animal and throwing it in the cooler in the back seat while everyone at the trail head puts their gear away in their 50-80k trucks.
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post 1660820713 05-06-2022, 06:34 AM
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#37
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Depends on your other bills. Can you afford a 700-800/month payment for the next 5 years?

It's up to you to be an adult and figure out your budget and be responsible........or dont and YOLO!


I make low 6 figures and drive a 2009 F150 that I paid cash for 2 years ago (before the market went nuts). I'm savings/investing roughly 2500-3k/month and still cant rationalize buying a new vehicle.
post 1660820793 05-06-2022, 06:36 AM
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#38
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Follow the misc’s advice and you’ll be rich by the time you’re dead.

Follow what you want to do and if the truck will make you happy do it. I spend more than most on my car bc I love it.. it’s what makes me happy.

You’re still going to be saving a lot of money (80% vs 100%) and IMO now is not the time to buy a house anyway (neither a car but good deals are still out there if you look hard).

This life just boils down to doing what will make you happy anyway.
post 1660821033 05-06-2022, 06:42 AM
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#39
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Originally Posted By PShift5⏩
You don’t see the customizations that you can do?!
teen misc ------>
post 1660821133 05-06-2022, 06:45 AM
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#40
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Originally Posted By juice323232⏩
Dated a girl when I was younger and her father was highly successful. He sat me down (probably hoping I would marry his daughter, and I should have) and told me a simple rule to live by……..don’t buy a single thing in life if you can’t buy it outright, no debt, no payments. To this day I’m not sure if he was right, but such a simplistic approach is true freedom. If all you can buy with cash is a chitbox, then drive that chitbox with a grin knowing you don’t owe the joo bankers a dime.
This is sort of right. Don't buy anything you can't afford to pay cash for. Then, look at interest rates and your expected ROI on the cash. If you still want the thing and ROI is a good margin higher than interest rates buy it and invest to get cash. If not pay cash. In both scenarios you're free as you haven't leveraged your future earnings.

Also buy a car based on what you need it for and expected reliability. If you don't haul things and have a small family buy a small economy car. If you haul once a month buy a small economy car and pay someone else to haul. Don't buy a 75k truck to pick up groceries.
post 1660821253 05-06-2022, 06:47 AM
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#41
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Heres the deal, you are focused on material possessions before securing your financial future. Forget the truck 100%. The house....that might be a stretch as well. I am assuming in your OP you are throwing around numbers post tax but are those numbers after maximizing your IRAs and other company enabled retirement accounts? If you havent factored those in along with an emergency fund, I am afraid a lot of that "extra" $1500 would be going to that.

Additionally, I think its rather unlikely that you would only use $200 a month on food if you are a grown man unless you are eating rice and potatoes every day.
post 1660821333 05-06-2022, 06:49 AM
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#42
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Originally Posted By juice323232⏩
Dated a girl when I was younger and her father was highly successful. He sat me down (probably hoping I would marry his daughter, and I should have) and told me a simple rule to live by……..don’t buy a single thing in life if you can’t buy it outright, no debt, no payments. To this day I’m not sure if he was right, but such a simplistic approach is true freedom. If all you can buy with cash is a chitbox, then drive that chitbox with a grin knowing you don’t owe the joo bankers a dime.
This is an ok rule for someone who is financially illiterate. But very wrong for those who have a good grasp on finances and want to get ahead in business. There are very few successful business folks I know that havent used leverage in one way or another.
post 1660821363 05-06-2022, 06:49 AM
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#43
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my 188cm skis fit in my camry when i fold the back seat down, just sayin
post 1660821373 05-06-2022, 06:50 AM
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#44
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Only buy new crew. Get the A/z plan pricing from Ford so it knocks off like 15% so it for me it’s worth it. But I make a lot and my house is paid off.

In reality if it’s something you have to think about you should probably just buy used.
no crew crew
post 1660821603 05-06-2022, 06:55 AM
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#45
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It depends, do you need a truck now?
Navy vet brah 02-11
post 1660822553 05-06-2022, 07:17 AM
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#46
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honestly it will be cheaper to buy a new truck than a chit box. it takes a lot of payments to add up to a new transmission. plus the chitbox will be overpriced right now as all used cars are, AND you wont get as good of a rate financing it.
That said, dont buy a taco. they are really expensive for what you get (i do like them) if you are on a budget and for your usage id try to pick up a new ford maverick. you can get a nice one for under 30k. its way faster than the tacoma, nicer inside, gets better gas mileage. they only thing you lose is offroad, which you said nothing about doing. Ranger, frontier, Colorado are all better values than a taco.
post 1660822733 05-06-2022, 07:21 AM
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#47
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Don't do it OP.
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post 1660822893 05-06-2022, 07:25 AM
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#48
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I recently was in a suburb of a city I typically don't travel to.....I drove past a trail park and in every yard was parked a 2020+ car or truck. Srs, vry srs.


Let that sink in.
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